Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/147858
Authors: 
Falk, Armin
Zimmermann, Florian
Year of Publication: 
2016
Series/Report no.: 
IZA Discussion Papers 10172
Abstract: 
Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future consumption have direct utility-consequences. This gives rise to informational preferences, i.e., preferences over the timing and structure of information. Using a novel and purposefully simple set-up, we experimentally analyze preferences for information along four dimensions. We find evidence that the majority of subjects prefers receiving information sooner. This preference, however, is not uniform but depends on context. When the environment allows subjects to not focus attention on (negative) consumption events, later information becomes more attractive. We also identify an aversion towards piecemeal information. Variations in prior distributions do not seem to affect information preferences.
Subjects: 
beliefs
anticipatory utility
news utility
information preferences
attention
reference-dependent preferences
experiments
JEL: 
C91
D03
D12
D83
Document Type: 
Working Paper

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